All Forum Posts by: Jeff B.

First, crack a beer open and Salud! I would then hold off on doing anything as there is usually a 10 year adjustment in real estate, some say its a bubble, crash, whatever you determine to define it as. I'd hold and collect on what you have going for you since the rents have increased as well, take that extra cash and hold onto it for a year or so...see what develops.

What kind of zone do you have on your property? If the zoning states you can have two buildings livable on your property than go talk with the county to see if you can get a permit to code the structure for a living arrangement.

Here is my life hack going back to when I was 18. Dress the part, act the part, understand/learn software programs, understand accounting. Intern under a CFO while paying my way in college. Went from Intern to analyst while they paid for my education. Understood real estate, got not escrow/title for a builder in Texas/California. Worked hard/spend frugally and started to invest when the numbers look right. I look at 1,000 properties a month, sometimes bi-weekly while still maintaining a 8-5 job. It's best to have folks pay for your life than you out of your job. Cash flow counts! Good luks

Question regarding water pressure: when we have the washing machine on and the shower on or sink running we get very low water pressure. Does the city have a regulator on water volume allowed into each home? Is there a way to ask to remove or up the water volume?

Your initial submission didn't mention anything about what you owned to indeed leverage or take advantage of your situation. I'm sure if James knew that info he could give a generalized example how the break/fix your situation. If you want to add to your portfolio it starts by persuading your wife. I had too, funny enough my wife and I had an argument 2 weeks ago because we moved 3 times in 3 years and she said she didn't sign up to be a military wife. I personal did FHA loans, 3.5% down and I'm making a return on the COC. Better alternative than if I invested in CD's or stock, even with a PMI. Whether I refinance and move out of the PMI or stick with it I'm still making money. My first property I purchased was from a investor who had 4 or 5 properties and he took the risk to rob Peter to pay Paul and due to the markets slumping and the money he leveraged put him under, he had to sell immediately. The guy got to a point where he stopped paying his mortgages and kept collecting rents. Moral of the story, think thoroughly thru your next property and act upon it wisely just don't pick up another property just because you want a fatter portfolio. Quicker, numbers need to make sense. Of course I study markets and watch 100's of houses each week and do the numbers. If I couldn't pull the funds for a diamond in the rough property quickly enough I would get family members to invest cash into my down payment (of course you need to sign off with the bank as a gift and not a personal loan from family/friends). ...You seem like you have what it takes based on your second response, I would chat with a credit union loan officer, they may give you better insight on the leverage you can do with your first property and once you have the actuals you'll be ready to take action once you come up with another good property to purchase. Good luck!

I started a quarterly newsletter for my 4plex, give info on issues, events, city changes (water rates, recycle centers, et.al.), any issues that occurred onsite and a lesson can be learned I try to share, this educates my tenants and education comes at a price, this is my value I give. I use to give them a monetary gift, but my land lording is a gift compared to other landlords so I don't need to sugar coat it anymore than what I already do. What I have noticed is my tenants have started to pick up around the landscape and are acting with more pride than in the past.

My CPA/lawyers state that my social security number acts like a business entity, I get to write-off my phones, vehicle, sq ft of office space in my home as business expense, depreciation and all my repair expenses on my properties. The same exact things an LLC or any other business setup. Get a good insurance policy that covers, this will protect your personal assets. Spend an hour or two with a current practicing lawyer and a CPA and pick their brain on your local laws/practices.

Welcome to BP! Now that you can check the website on your Android I'm sure you will put countless hours reading up on the forums! Take care!

Hi @Easton Garcia, I moved from Cali to Albuquerque December 2012 and just bought my third property in that time frame (4 plex and 2 SFH's). I review hundreds of properties a day and I'm itching to pull the trigger on three residential lots on you side of town. If you need to chat, I'm here. Good luck. Jeff

Came across a guy selling 3 residential lots, curious on what I need to look for and what to ask. New development in this area and will be in prime area of high school middle school. Three prime lots around 14k sq ft per lot. Do I call the city, I'm guessing he has the land deed for these. Any assistance on who I should contact with city to verify etc.